A Group of companies generally comprise of three or more associated companies.
The procedure may be summarized as follows:
1. Make a formal application to the Registrar General for consent for the use of the word “Group”. The word “group” is a restricted name as such you should first apply to the CAC Registrar General for permission to add “group” in the name.
2. There must be evidence of a minimum of three (3) or more associated / similar companies to form the Group Company, which will be the distinct entity having.
3. Each of the associate companies should have a resolution indicating consent to form the “Group” relationship.
4. Updated annual returns of all the associate companies.
5. Evidence of Company secretary of associate companies.
6. Evidence of compliance with S.553 CAMA where applicable.
7. Upon obtaining the Consent, the Applicant can go ahead to register a new company with the same procedure for the registration of a new company.
On your second question:
There is generally no minimum share capital for registering a group of companies. However, the share capital for the group must be greater than or equal to the share capital of its largest subsidiary. On this, the law usually requires a statement by the proposed Group Company that the share capital shall not be less than the highest share capital amongst the associate companies.
Note however that there are certain minimum thresholds imposed by law. You may do well to check the list here: (www.new.cac.gov.ng/home/minimum-share-capital-thresholds/